Exclusive: Lloyds staff facing redundancy fear being left jobless by bank amid pandemic
Staff at Lloyds Banking Group who are being made redundant fear the bank will leave them jobless amid the savage economic downturn triggered by the coronavirus pandemic.
The bank publicly committed last month to pause plans to cut 780 jobs amid surging customer demand and the economic uncertainty leavers would face.
However, it has not communicated an official position regarding the fate of staff who have already been handed their notice.
One Lloyds staffer who spoke to City PM on the condition of anonymity said: “It feels like they are knowingly pushing people into redundancy when the least they could do is extend any redundancy for two to three months… or add these colleagues to furlough.”
Screenshots seen by City PM of a thread on Lloyds’ internal intranet dated 15 April showed concerns from multiple staff about their future.
One said: “There is enough uncertainty in the world right now. A definitive update on this would be appreciated.”
Another said: “This ongoing uncertainty..is not helpful and disappointing after so many years with the company.”
A third staffer said: “My team has had this hanging over us…and have struggled to get any clear communication.”
Lloyds will not exit staff in April
A source close to the bank said Lloyds would not be exiting any staff during April. And the bank is expected to review its policy on an ongoing monthly basis.
Lloyds would not give an on the record statement about its policy towards staff already going through redundancy.
A Lloyds spokesperson said: “The group has confirmed to its full-time and part-time permanent colleagues that they will continue to be paid their contracted hours as normal – no matter what their role is, how the outbreak affects their role, or what their circumstances are.
“Combined with measures taken to safeguard the safety of our front-line colleagues, this ensures that we are able to continue to serve all our customers where they need us most.”
Barclays told staff this week it was halting new redundancies while the coronavirus crisis is ongoing. It said it would support staff already going through redundancy processes.
The bank said staff being made redundant would be placed on a furlough scheme similar to the government’s job retention scheme. Barclays, rather than the state, would pay 80 per cent of people’s wages.
Building society Nationwide said earlier this month it would not make any compulsory redundancies during 2020.